Phocas Financial Corp. Takes Position in Equinix, Inc. (NASDAQ:EQIX)

Phocas Financial Corp. bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 599 shares of the financial services provider's stock, valued at approximately $565,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. lifted its holdings in shares of Equinix by 61.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock valued at $7,946,000 after purchasing an additional 3,212 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Equinix by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock valued at $592,191,000 after buying an additional 2,560 shares during the period. National Pension Service lifted its stake in shares of Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock valued at $229,263,000 after buying an additional 3,164 shares during the period. Empowered Funds LLC lifted its stake in shares of Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock valued at $2,361,000 after buying an additional 404 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Equinix by 20.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock valued at $93,807,000 after buying an additional 17,084 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EQIX. Bank of America began coverage on shares of Equinix in a research note on Monday, May 19th. They set a "buy" rating and a $1,000.00 price objective on the stock. Barclays upped their price objective on shares of Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research note on Tuesday. Oppenheimer upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. New Street Research raised shares of Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and six have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $1,004.80.

Equinix Trading Up 0.2%

Shares of EQIX stock traded up $1.65 during mid-day trading on Friday, reaching $889.08. The company's stock had a trading volume of 973,117 shares, compared to its average volume of 527,294. The company's 50 day simple moving average is $831.05 and its 200-day simple moving average is $890.74. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $86.97 billion, a PE ratio of 103.99, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business's revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $8.86 EPS. On average, research analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's payout ratio is 195.01%.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director now directly owns 17,569 shares of the company's stock, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider now directly owns 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

About Equinix

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.